The EUR/USD pair edges lower to multi-day lows around 1.0870 on the firmer US Dollar (USD) during the early Asian session on Tuesday.
EUR/USD remains on the defensive near 1.0872 amid renewed USD demand. The Fed is anticipated to hold benchmark interest rates steady in the range of 5.25%–5.50% at its March meeting. ECB policymakers signaled progress in easing inflation and began discussions about the rate cut. The Federal Reserve's monetary policy meeting will be a closely watched event. The EUR/USD pair edges lower to multi-day lows around 1.0870 on the firmer US Dollar during the early Asian session on Tuesday.
Nonetheless, the central bank policymakers signaled progress in easing inflation and began discussions about the rate cut. The ECB Governing Council member, Pablo Hernandez de Kos, said that the central bank may start lowering interest rates in June if inflation in the eurozone continues to decline. Meanwhile, ECB policymaker Mario Centeno stated that cutting borrowing costs could help prevent a euro area recession.
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